Take a minute to send an email to Turbocad support.
http://st.imsisupport.com/index.php?d=4&Next=Next&pf=t
They didn't seem to be aware of the issue...but have recreated the same problems I had. Seems if the 12.5 update is necessary...then it should work with the CAM.
As a side note...seems the CAM version is proprietary to the version of TC...in other words, if the CAM didn't ship with the CAD...it most likely will not work. I got an upgrade offer for the latest TC and they advised that the CAM was another $299 and the old version would not work.